Thursday, May 2, 2013

Today's "The Gift That Keeps On Giving"

The University's AVP for Human Resources is circulating a memo reminding units that come January 2014, a provision of the Affordable Care Act (AKA Obamacare) will require health insurance be provided for anyone working 30 or more hours a week (assuming 40 hours a week is full time.) If the University system does not offer medical coverage to 95% of all of these “full-time” employees, then there will be an annual penalty of $2,000 for every “full-time” employee or approximately $37,000,000. Thus part-time employees will now be limited to 29 or less hours of work a week and this will be rigorously watched.